Total Organic Carbon (TOC) analyzer Market to outgrow USD 1278.8 MN by end of 2024
TOC analyzer has found its application in the various industry like pharmaceutical, environmental, energy & power, oil and gas, chemical, and food and beverages. In the past few years, it has gained importance in response to the growing demand for clean water around the globe. As per the latest updated market study “Global TOC Analyzer Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast 2017 to 2024” seen on DecisionDatabases.com the global TOC analyzer market is anticipated to grow at a CAGR of 6.45% between 2017 and 2024. The market was evaluated to be close to USD 878.85 MN in 2017 and reach USD 1361.24 MN by 2024.
In the developing region, stringent government rule and regulation regarding water treatment have supported the healthy growth rate of TOC analyzer market. In addition, the rising awareness regarding water treatment in Asian and European nations has shaped demand for TOC analyzer in this region. On the other hand, the positive impact seen due to the rising concern over water scarcity due to water pollution and depletion of water, governments are focusing on water treatment solutions. Asian countries like India and China are witnessing the most noticeable region for the market growth.
A total organic carbon analyzer measures the amount of total organic carbon present in a liquid or a water sample. TOC analyzers are used in diverse fields, including the management of tap water, effluent, ultrapure water, and management of pharmaceutical water used in drug manufacturing processes, evaluation of cleaning efficiency, and environmental investigations of river water and soils.
Currently, many water treatment projects are on the rise to deal with polluted water across the various nations. Moreover, the market is further driven by rapid urbanization in the recent few years which has abruptly polluted the water bodies. Going forward, leading manufacturers would take efforts to sell TOC analyzer in water scarce region which will create a growth opportunity for the market. At the same time, the fast-growing population is another factor that will have an extensive impact on the market growth. Also, the rise in the amount of water used for natural gas production is estimated to strengthen the market in the near future.
However, governments, as well as companies, are putting efforts to improve access to safe drinking which will be in favor of market growth. Apart from this, the ever-growing need for clean water across the world is another factor serving to bolster the demand for global TOC analyzer in the next couples of years.
The report covers in detail the market dynamics highlighting the current and future growth trends. The analysis is extended regionally as well as the TOC Analyzer market is fragmented as per applications, industry, type, technology and offerings. The coverage of this report is extensive and thus will enable a full understanding of the market and its future prospects.
The companies profiled in the report are not limited to Eltra, Endress+Hauser, General Electric, Hach, Lar Process Analysers, Metrohm, Mettler-Toledo, Shimadzu, Teledyne Tekemar, and Xylem.
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